Commission Meeting Draft Minutes

Draft Minutes of the May 6, 2019 5:45 p.m. Commission Meeting

The regular meeting of the Lady Lake Town Commission was held in the Commission Chambers at Lady Lake Town Hall, 409 Fennell Blvd., Lady Lake, Florida with Mayor Jim Richards presiding. The meeting convened at 5:45 p.m.

Mr. Ross stated that he is presenting the audited Comprehensive Annual Financial Report for the Town for fiscal year-ending September 30, 2018. He stated that the official letter to the Commissioners communicating the formal results of the audit as required by Government Auditing Standards was distributed at this meeting. He stated there were no recommendations for changes in the Town’s accounting processes. He stated there were no issues noted in the auditor’s report.

Mr. Ross commented that the amortization of sewer capacity reservation agreement assets (with The Villages) continues to be the most sensitive area affecting financial statements. He stated he completed an inventory observation for the water and sewer supplies at the Public Works facility. During his visit, he noted that the new Utilities building was not as far along as the payout accrual, and a delay in the payment accrual was agreed upon. Mr. Ross pointed out that an operating loss is always shown in Utilities Operations because the Utilities facilities are depreciated each year. He stated he is very pleased that the Town has no debt.

Commissioner Hannan made a motion to approve the distribution of the Comprehensive Annual Financial Report for Fiscal Year Ending September 30, 2018. Commissioner Holden seconded the motion. The motion passed by a vote of 5 to 0.

Mr. Ross stated that the staff of the Finance Department does more and more for him every year, and are learning more every year how things work in this report.

The Mayor, Commissioners and Town Manager thanked Mr. Ross for his report and thanked the Finance Department staff for their work.

2. Presentation of the Certificate of Achievement for Excellence in Financial Reporting for the Fiscal Year Ending September 30, 2017 (Mayor Richards)

Mayor Richards presented the Certificate of Achievement for Excellence in Financial Reporting for Fiscal Year Ending September 30, 2017 to the Finance Department staff.

Finance Director Pam Winegardner commented that the audit report for 2018 was just sent in. She stated this is for the 23rd year the Town has received this award.

The Mayor, Commissioners and Town Manager congratulated the staff of the Finance Department.

E. Adjourn

There being no further business, the meeting was adjourned at 5:53 p.m.